2014-01-24 12:20:40 - Growing need for rapid and onsite diagnostic testing as a consequence of rising prevalence of target diseases is expected to drive market demand

The global market for portable X-ray and CT scan devices is expected to reach USD 8,408.0 million by 2020, according to a new study by Grand View Research, Inc. Rising demand for bedside imaging, home healthcare and the growing use of CT scan devices for anatomical confirmation and to assess the accuracy of medical implants during and post interventional medical procedures are two of the most significant growth drivers of this market.

The market will also be driven by factors such as rising prevalence of target diseases such as cardiovascular, dental and orthopedic disorders and cancer, growing global base of geriatric population and the consequent rise in the number of medical procedures especially the ones involving medical implants.

The presence of high growth opportunities in emerging Asian and Latin American countries and the introduction of technologically advanced and cost effective products catering to the cost sensitive clientele present in the aforementioned regions will fuel the future growth of this market. Moreover, the implementation of government initiatives such as the 12th Five Year Plan in China will ease the entrance of market players into these regions and capitalize on the untapped growth opportunities.

The global portable X-ray devices market was dominated by the mobile X-ray devices market on account of the rising demand for bedside imaging and point of care diagnostics. In addition, the fact that these devices eliminate the need for multiple radiology departments in a healthcare institution and therefore prove to be cost effective serves this market as a driver. However, high maneuverability associated with handheld X-ray devices and the introduction of products such as the NOMAD Pro will help the global handheld X-ray devices market exhibit the highest CAGR during the forecast period.

Further Key findings from the study suggest:

•The global portable X-ray and CT scan devices market was valued at USD 4,677.0 million in 2012 and is expected to grow at a CAGR of 7.6% from 2013 to 2020
•The global portable CT scan devices market was dominated by the medium slice scanners (64 slices) market owing to their high usage rates and high image resolution capabilities. Its market share was calculated at above 60% in 2012.
•Digital radiography (DR) is identified as the fastest growing technology in the overall portable X-ray devices market. Rising demand of PACS (Picture Archiving and Communication Systems) based radiology devices and growing demand for filmless X-ray devices are some of the factors accounting for the aforementioned inference.
•North America is expected to dominate the overall market throughout the forecast period owing to the presence of sophisticated healthcare infrastructure, reimbursement framework and high healthcare expenditures in this region. However, the presence of high unmet medical needs in emerging Asian economies such as India and China will help the Asia-Pacific portable X-ray and CT scan devices market grow at the highest CAGR (10.2% from 2013 to 2020).

•The portable X-ray and CT scan devices market is highly competitive with players such as GE Healthcare, Philips Healthcare, Siemens Healthcare, Hitachi Medical Systems and Varian Medical Systems dominating the market. However, technological innovations play an integral role in the market and manufacturers are developing strategies in congruence with this to ensure sustainability and gain market share. E.g. The launch of handheld X-ray device – “NOMAD Pro” by Aribex Inc.
•For the purpose of this study, Grand View Research has segmented the global portable X-ray and CT scan devices market on the basis of product, technology and region:

Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, customized research reports and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights. For more information, visit www.grandviewresearch.com

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